On November 4, 2014 Bo Polny made his first appearance on the show, boldy predicting the beginning of a new up cycle in precious metals. His logic is pretty compelling. Looking at gold against the Japanese Yen, it almost becomes inescapable. Will there be one last mega-raid? That remains to be seen. But right now, the bullish case for gold and silver looks pretty strong. 

Direct download: Bo_Polny_24.Nov.14.mp3
Category:general -- posted at: 12:45pm EDT
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t’s been quite a month.

In late October Japan, despite a year of fairly aggressive quantitative easing, dropped back into recession and concluded that even easier money was the cure for its ills. It announced a debt monetization plan of almost science-fictional proportions in which the amount of new yen to be created, as a percentage of GDP, will be equivalent to $3 trillion a year in the US. See Reactions to BoJ’s Kuroda’s Stunning, Doubled-Down QE ‘Experiment’

Then the European Central Bank, after years of operating in Germanic tight-money mode, finally accepted that a shrinking money supply was pushing the weaker eurozone countries into depression. On November 21 it threw caution to the wind and began buying up (by the sound of it) pretty much every stray piece of paper that’s blowing in the Continental wind. See
Mario Draghi Says E.C.B. Will ‘Do What We Must’ to Stoke Inflation

Most recently China, whose massive purchases of raw materials became the engine of the post-2008 recovery, discovered that much of the debt incurred to build those entire new cities is about as likely to be paid back as a typical subprime mortgage circa 2007. So it announced a surprise interest rate cut and a promise to do much more if necessary. See China’s surprise rate cut shows how freaked out the government is by the slowdown and Fear Of “Surge In Debt Defaults, Business Failures And Job Losses” Means Many More Chinese Rate Cuts

These are not the actions of economies in sustainable recovery but of countries falling into an abyss. Such open-ended offerings to the market gods are explicitly designed to get the juices of stock traders flowing. But so far that’s all they’ve done. Here’s a chart from Zero Hedge showing how each year’s initial GDP optimism has faded even while equity prices have continued to rise.

Direct download: John_Rubino_24.Nov.14.mp3
Category:general -- posted at: 12:33pm EDT
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Manipulation Mondays with Andrew Hoffman:

Swiss referendum

                - Switzerland only nation with capability of saving itself, with powerful forces backing both sides - and likely, a dead heat going in

                                -ARTICLE (today's) ' "Decision of a Lifetime", and last week's "Call to the Swiss"

                                -ARTICLE - "Splintering" - not just in Switzerland, but the entire world

                                                - Scotland, Catalonia, Venice

                                                - Switzerland

                                                - ECB itself, as Germany against QE as Draghi pushes it forward

                                                - ECB vs. SNB, per ARTICLE "ECB (and many others) vs. SNB          

                                                                -last week's ECB comment that it is considering buying gold and Dutch repatriation announcement - which seemingly attack the SNB at its great moment of propaganda need (as clearly, the ECB wants the F                                                                Euro/Franc peg broken, per the "final currency war."  Not to mention, Draghi's uber-dovish comments Friday, in which "whatever it takes" was supplanted by his new catch phrase, "whatever means                                                                         necessary."

 

                                -anti-gold propaganda off the charts

                                                -ARTICLE "He doth protest too much - the Best of Thomas Jordan"

                                

PHYSICAL PM markets on fire, care of this month's blatant pre-Swiss vote attacks - and, as it turns out, Ukraine desperation gold sale as its currency collapses

                                -most negative GOFO rates since 1999, lowest level since then is this morning

                                -record 1H Indian silver imports, 1H Royal Canadian Mint Silver Maple Sales, U.S. Mint Silver Eagles sales YTD, even with sales suspended for 12 days in November, elevated premiums still

                                -massive mining industry capex cuts (see BHP Billiton today), and year-end will be cataclysmic for mining industry in general at current levels

                                -Chinese gold imports likely will meet or exceed 2013's record level as well

 

Massive global money printing

                                -just weeks after Japan announced "Abenomics 2.0," China surprise market with rate cut, and expectations of more to come as Chinese economy collapses

                                -fears that this week's Euro inflation numbers will be too weak (more money printing), and if OPEC engages the world in a price war (Thursday meeting), could accelerate money printing further

                                -U.S. data across the board weak, other than the "lie to end of all lies" - i.e., last week's 10 sigma beat of Philly Fed.  John Williams thinks 3Q downward revisions could be large, and 4Q potentially negative

                                                -only a matter of time before Fed QE to Infinity widely understood, especially as "strong dollar" killing U.S. multi-national earnings and stocks and bonds at record high valuations

Direct download: Andy_Hoffman_24.Nov.14.mp3
Category:general -- posted at: 12:32pm EDT
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